The Patient Protection and Affordable Care Act (PPACA, also known informally as "Obama-Care) defines full-time employees as those who work 30 hours a week on average. This law requires large employers to accurately track, record and report to the IRS on an annual basis each employee's status of full-time or part-time monthly starting in 2014. Ask your payroll company or payroll service how to handle the reporting.

Small business owners around the world know that the hardest part of running a business is getting the right kind of employees. You should ask yourself a few questions before you start to hire your next employee. What are you looking for in an employee, what you want the employee to accomplish, and what kind of employee best fits in your business? Did you know that one bad hire can potential cost your company thousands of dollars? With the economy being the way it is, can you as a small business owner really afford to lose thousands?

The following article was contributed by Jake Lincoln, CPA, located in San Diego, California. You may contact him at www.lincolntaxandwealth.com. Original published date January 8, 2013.
Under the Patient Protection and Affordable Care Act of 2010, employers are required to disclose the aggregate cost of employer-sponsored health insurance coverage provided to their employees on each employee's annual Form W-2. Contributions to Health Savings Accounts and Medical Savings Accounts are not included. This requirement began last year, for all 2011 Form W-2's. This is the second year of this new reporting legislation.